Day 1: Session 2 - Building Big Data Ecosystems to achieve Business Objectives
Keynote Speaker: Dr. Kevin Fleary (Lok Jack Business School)
In this ever changing world, customer centric companies must embrace Big Data to remain competitive and develop sustainably. The concept of Big Data assumes large data sets with multiple data types where holders of such a resource can computationally analyze samples of data to discover patterns, trends and associations. This insight can be used by companies to make evidence base decisions at the operational, tactical and executive level which can improve the efficiency and effectiveness of companies permitting continued competitive advantage. One must acknowledge that for Big Data to thrive it must be nurtured. Big data requires an ecosystems of data creators, data users, data management and supporting technologies. The following presentation and dialogue will take this fact into consideration as strategies to develop a Big Data Ecosystem will be based on the degree of readiness, analytical maturity of businesses and the sector in which it operates. At each level of growth and maturity businesses can make evidence base decisions however, the quality of decision making and understanding of the competitive environment increases as one’s Big Data Ecosystem matures. Therefore, companies that are interested in contemporary approaches to improve their bottom line and achieve their business objectives must pivot and embrace the advantages derived from a Big Data Ecosystem, a resource that is quickly becoming standard.